F1 News
Renault into the red after spending big
- Tom Mason
It's been revealed that Renault has gone into the red after spending big on certain things last year such as win bonuses. The team fell from a £1 million pre-tax profit the previous year to a £7.8 million loss in 2018.
The Oxfordshire based teams ended up fourth in the constructors' championship last season as costs went up from £18.6 million to £152.3 million as the team looked to improve it's Chipping Norton factory.
The fourth-place finish in 2018 was their best result as a team since they returned to the sport as Renault.
Their best result since returning to F1 came as recently as last weekend when Australian driver Daniel Ricciardo secured a fourth-place finish, narrowly outside of the podium.
The Aussie joined the team for this season, signing for a reported £22 million a year and they'll be looking for better results as the season draws towards a close.